abrdn plc Has $33.59 Million Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

abrdn plc lessened its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 64.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,380 shares of the apparel retailer’s stock after selling 222,818 shares during the period. abrdn plc owned 0.10% of Lululemon Athletica worth $33,590,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LULU. XTX Topco Ltd increased its stake in shares of Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after buying an additional 6,562 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Lululemon Athletica by 31.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after acquiring an additional 3,721 shares during the period. Gateway Investment Advisers LLC raised its stake in shares of Lululemon Athletica by 9.7% during the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after acquiring an additional 3,077 shares during the last quarter. Rheos Capital Works Inc. lifted its holdings in shares of Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock worth $4,206,000 after purchasing an additional 2,500 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Lululemon Athletica by 4.0% in the first quarter. Nordea Investment Management AB now owns 8,261 shares of the apparel retailer’s stock worth $3,250,000 after purchasing an additional 321 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Lululemon Athletica news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Calvin Mcdonald bought 4,000 shares of Lululemon Athletica stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $303.85 on Thursday. The company has a fifty day moving average price of $272.78 and a 200-day moving average price of $293.03. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.17 and a beta of 1.25. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm posted $2.68 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LULU shares. Guggenheim cut their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Morgan Stanley cut their price objective on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. Truist Financial restated a “buy” rating and issued a $310.00 price target on shares of Lululemon Athletica in a research report on Wednesday, August 28th. Finally, UBS Group dropped their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $354.55.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.